Retail Managed Funds grew 2.8% during the June 2015 quarter to NZ$64.2bn while over the whole of 2014/15 they were up 18.6%. As in 2013/14 a combination of significant positive net flows plus good performances on underlying investment markets drove this strong overall result.
Of the individual sub-markets KiwiSaver continued to outperform up another 30.4% while Unit Trusts & Managed Funds were also up increasing by 14.0% however Other Superannuation business fell 10.7% and the Insurance & Investment Bonds market was relatively flat up just 1.7%. Almost all of the leading companies reported jumps in their funds under management with very strong double digit percentage increases being recorded by Nikko (61.6%), off a relatively low base, Kiwi Wealth (60.6%), Milford (34.3%), Grosvenor (26.5%), ASB (23.5%), BT / Westpac (21.3%), Mercer NZ (19.8%), Fisher (18.7%) and ANZ (17.9%).
Gross Inflows for the year to June were NZ$17.8bn, up by almost a quarter, or 24.6%, on the previous twelve months total. There was also a corresponding even greater 33.6% jump in Inflows in the June quarter. Kiwi Wealth, ANZ, ASB and Fisher all reported large to very large percentage increases in their annual Inflows; BNZ was another to see its Inflows soar year on year but off a very low base.